LG Chem has become the second largest EV battery manufacturer in China thanks to the Tesla Model 3

Ford Motor Company said today it reached an agreement with Tesla Motors that will provide Ford electric vehicle customers access to more than 12,000 Tesla Superchargers across the U.S. and Canada, doubling the number of fast-chargers available to Ford EV customers starting Spring 2024. A Tesla-developed adapter will provide Ford F-150 Lightning, Mustang Mach-E and E-Transit vehicles fitted with the Combined Charging...

26 May 2023

At the Tesla 2023 Shareholders Meeting Elon Musk made several key announcements. Here's a brief recap of what he said. Next Gen Drive Unit. The announcement of the next-gen drive unit was the first more noteworthy one among a few. As already stated before, during the development stage, this next-gen drive unit uses zero rare earth materials. It requires 75% less Silicon Carbide and reduces gigafactory footprint by...

17 May 2023

Panasonic has released its financial results for the year 2023 so far and expectations for 2024. In the expansive document, there's a section depicting the areas where the company expects growth and one of them is automotive batteries. In order to take advantage of this expected growth, Panasonic mentions three key areas: Enhancing supply capabilities in the USA - the mass production of 2170 cells from the Kansas...

11 May 2023

CNBC reports that Elon Musk has broke ground on a Tesla lithium refinery that is planned to be built in Corpus Christi, Texas. Gov. Greg Abbott also attended the ceremony. Tesla will invest USD 3.75 million in this project as one of the company's steps to secure a domestic supply of lithium hydroxide for its batteries. The report cites Elon Musk who said that this refinery should provide enough lithium for Tesla to...

9 May 2023

SNE Research reported that the global EV battery market has recorded a 38.6% YoY growth in Q1 of 2023. The total amount of energy held by batteries for pure EVs, PHEVs, and HEVs was around 133 GWh. CATL remains the top market player with a growth rate of 35.9% and 35% market share. BYD experienced a staggering growth in the Q1 of 115.5% but ranks second in market share with 16.2%. LGES is third with a growth rate of...

5 May 2023

LG Chem is reinforcing its battery materials supply chain by joining hands with China’s Huayou Cobalt to build a precursor plant in Saemangeum National Industrial Complex, located 230 kilometers southwest of Seoul, Korea. LG Chem announced that it will sign a memorandum of understanding (MOU) with stakeholders on Wednesday, April 19, in an agreement to invest in a precursor plant in Saemangeum. The MOU-signing...

19 April 2023

CATL launched condensed battery, a cutting-edge battery technology at Auto Shanghai. With an energy density of up to 500 Wh/kg, it can achieve high energy density and a high level of safety at the same time in a creative manner, opening up a brand-new electrification scenario for passenger aircrafts. CATL can achieve mass production of condensed batteries in a short period of time. To address the changes of the...

19 April 2023

CATL's first sodium-ion battery will power Chery EV models. This was announced by CATL on Twitter. At the same time, Chery Auto held a press conference during which it presented its new iCar brand and also confirmed that CATL's first sodium-ion battery will power its EV models including the iCar GT two-door coupe and the iCAR 03. CATL and Chery Auto also jointly announced at the event that the two companies create a...

18 April 2023

In the first quarter of this year, Tesla produced over 440,000 vehicles and delivered over 422,000 vehicles. The company continues to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC. Tesla will post its financial results for the first quarter of 2023 after the market close on Wednesday, April 19, 2023.

4 April 2023

LG Chem aims to enforce its battery material patent rights amid intensifying technological competition with the aim of dominating the global advanced battery market as demand for electric vehicles (EVs) continues to rise. LG Chem today proposed to license out its high-nickel cathode material patent to China-based cathode material suppliers. To that end, LG Chem plans to enforce its patent rights against other global...

20 March 2023

BYD introduces a new brand and new technology to the UK automotive marketplace. The all-new, all-electric BYD ATTO 3 is now available to order in the UK with customer deliveries starting from 15 March 2023. The first BYD ‘Pioneer’ stores will open imminently and are situated along the spine of UK including Birmingham, Manchester, Glasgow and Milton Keynes. The new BYD ATTO 3 is a spacious C-Segment SUV, combining...

8 March 2023

Tesla's 2023 Investor Day offered several interesting pieces of information. For starters, during the time for vehicle design, Tesla presented in detail how it optimized the manufacturing process starting from design to the assembly resulting in decreasing the "nothing-to-do" time and more than 40% reduction in manufacturing footprint. Thus the company will build factories faster, with less CapEx and more output per...

3 March 2023

Piedmont Lithium, a leading global developer of lithium resources critical to the U.S. electric vehicle supply chain, announced that it has signed agreements with LG Chem, under which LG Chem will make a $75 million equity investment in Piedmont and commit to the offtake of 200,000 metric tons of spodumene concentrate (SC6) from Piedmont's jointly-owned North American Lithium over a four-year term. LG Chem will...

19 February 2023

Ford has committed to producing both nickel cobalt manganese (NCM) and lithium iron phosphate (LFP) batteries in the U.S. The brand is investing $3.5 billion to build the country’s first automaker-backed LFP battery plant, offering customers a second battery technology within Ford’s EV lineup. This plant – called BlueOval Battery Park Michigan – initially will employ 2,500 people when production of LFP batteries...

14 February 2023